With 1,832 properties under contract, this is the highest number of pending real estate transactions the Coastal Carolinas market has seen since March of 2022. That is almost certainly a reaction to the record-breaking number of new listings added to the market in March (with 2,690 properties added to the MLS, it was the most ever recorded in a single month). That means new inventory was added to the market and buyers looked at what was on the market and all the new listings and they called their real estate agent.

With more inventory than we’ve seen in years, buyers have a lot to choose from. To understand the market a little better, I did a deep dive on all 450 properties that went under contract between April 15 and April 30. Interestingly, the days on market for this subgroup had a wide variance. Meaning, just because there were a lot of listings that were new to the market, buyers didn’t automatically buy the newer ones. In fact, zero properties went under contract that were on the market for less than 7 days. 46% of the ones that went under contract were on the market for two months or less. The property with the most days on market was 723! The average days on market for this subset of pending properties was 102 days. For sellers, this means don’t give up hope. Listen to your real estate professional and stay active in your marketing and advertising. Don’t let your listing go stale and also don’t give up. Buyers are buying properties that have been on the market for a while.

Every market I know eventually follows the law of supply and demand. When there’s high demand and low supply, prices go up. When there’s low demand and high supply, prices go down. Except for our current condo market. In April 2022, we had 1.1 months of inventory (current inventory divided by the number of sold properties last month). In April of 2026, we ended the month with 7.9 months of inventory. That’s a huge increase in the number of properties to sell compared to demand. In May of 2022, the average price of a condo in our market was $266,232. Last month, it was $273,120. How does this happen? Rental income and low motivation to sell. When your condo is regularly rented and cash flowing well because you don’t have a mortgage or the interest rate is low, you’re not motivated to sell your condo unless you can get the right price. Not only does a market contend with supply and demand, but a seller has to be willing to sell for what a buyer is willing to pay.

We look closely at the market data and identify trends so we can better help our clients. If you are thinking of buying or selling, we’d love to help! If you only have questions and want to talk through your specific scenario, please let us know. We want to be your trusted real estate resource and help you make the best possible decision!